September 25, 2018 / 11:02 AM / 22 days ago

BRIEF-Novartis Proposes To Exit Grimsby UK Site By End Of 2020

Sept 25 (Reuters) - Novartis AG:

* NOVARTIS PROPOSES TO EXIT GRIMSBY UK SITE BY END OF 2020 AS PART OF GLOBAL MANUFACTURING NETWORK TRANSFORMATION

* SAYS 395 NOVARTIS EMPLOYEES AT THE GRIMSBY SITE ARE DIRECTLY AFFECTED BY DECISION

* SAYS PROPOSED EXIT TO BE PHASED UNTIL 2020 END; OPTIONS INCLUDING DIVESTMENT, WHICH MAY POTENTIALLY ALLOW FACILITY TO STAY OPEN, TO BE CONSIDERED

* SAYS ADDITIONAL CONTACTORS EMPLOYED THROUGH THIRD PARTIES MAY ALSO BE IMPACTED BY GRIMSBY SITE DECISION

* SAYS GRIMSBY SITE EXIT DECISION IS PART OF GLOBAL REVIEW OF MANUFACTURING OPERATIONS AND IS NOT LINKED TO DECISION OF UK TO LEAVE EU Source text: (bit.ly/2Dv1EXm) Further company coverage:

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